FedEx (NYSE:FDX) Price Target Cut to $350.00 by Analysts at Barclays

FedEx (NYSE:FDX) had its price target lowered by Barclays from $365.00 to $350.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price objective would suggest a potential upside of 52.01% from the company’s previous close.

A number of other brokerages also recently commented on FDX. Stifel Nicolaus lowered their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Citigroup lowered their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Stephens lowered their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Bank of America lowered their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $301.67.

FedEx Stock Performance

NYSE FDX opened at $230.25 on Friday. The company has a market cap of $55.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a 50-day moving average of $259.95 and a two-hundred day moving average of $272.49. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.86 earnings per share. As a group, analysts anticipate that FedEx will post 19.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Several large investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI grew its holdings in FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Regal Investment Advisors LLC grew its holdings in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 38 shares during the last quarter. Cetera Trust Company N.A grew its holdings in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after purchasing an additional 40 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Finally, Aviso Financial Inc. grew its holdings in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.